T-Mobile announced a $1.5 billion stuck buyback course on Wednesday morning.
“This repurchase method underscores our Panel of Directors’ and management team’s confidence in our business and our commitment to creating worth for shareholders,” explained T-Mobile President and CEO John Legere. “Our strong balance sheet and cash flow generation give us the opportunity to go back capital while continuing to create significant investments in our network and operations.”
T-Mobile is among the many companies expected to initiate inventory repurchase programs ahead of the GOP tax overhaul. Lender of America recently announced yet another $5 billion inventory buyback method, following an already-planned $12 billion repurchase initiative, which garnered criticism from Sen. Chuck Schumer, who explained the maneuver was “another transmission big companies can smell the huge tax slash they have coming.”
T-Mobile said it will not purchase stock from it has the parent organization, Deutsche Telekom AG, beneath the program but DT is considering its repurchases of common inventory.
The repurchase program “may include open industry purchases, private negotiated transactions or otherwise,” the company said.
T-Mobile said it’ll analyze market conditions prior to making potential common inventory repurchases and noted that the “program could be suspended or perhaps discontinued at the company’s discretion.”
Correction: This storyline was revised to correct that T-Portable said Deutsche Telekom is considering its repurchases of common inventory.